Sensys Gatso Group (SGG) Q4 2024 earnings summary

Executive summary

• Order intake for 2024 was SEK 992 million, a 32% increase year-over-year, with 71% from recurring TRaaS contracts, especially in the U.S.

• Full-year 2024 revenue reached SEK 631 million, up from SEK 624 million in 2023, with 59% from recurring TRaaS services.

• Major contracts in Sweden and the Netherlands have a combined backlog exceeding SEK 1 billion, with Swedish rollout starting H1 2025 and Dutch rollout ongoing through 2026.

• Strategic investments focused on the U.S., including full ownership of Sensys Gatso USA.

• CEO Ivo Mönnink announced he will step down by October 1, 2025, after eight years.

Financial highlights

• Q4 2024 revenue was SEK 198 million, with TRaaS revenue at SEK 100 million (51% of sales) and system sales at SEK 98 million.

• Full-year EBITDA was SEK 69 million (down from SEK 85 million in 2023); EBIT was SEK 23 million (down from SEK 39 million).

• Gross margin for Q4 was 36% (down from 42% in Q4 2023); full-year margin was 38% (down from 40.5%).

• Net income for 2024 was SEK 5.7 million, with EPS of SEK 0.49 (2023: SEK 1.12).

• Available cash at year-end was SEK 203 million, with net interest-bearing debt of SEK 217 million.

Outlook and guidance

• 2025 revenue is expected between SEK 700–800 million, with an EBITDA margin of 12–14%.

• Ambition to reach SEK 1 billion revenue and >15% EBITDA margin is delayed but remains a long-term goal.

• Focus remains on executing the SEK 1 billion backlog and driving US TRaaS growth.